Earnest Partners LLC Has $126.75 Million Stake in Sonoco Products (NYSE:SON)

Earnest Partners LLC boosted its stake in shares of Sonoco Products (NYSE:SON - Free Report) by 0.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,594,601 shares of the industrial products company's stock after acquiring an additional 10,661 shares during the quarter. Earnest Partners LLC owned 2.64% of Sonoco Products worth $126,746,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB acquired a new stake in shares of Sonoco Products during the 3rd quarter worth about $71,000. Principal Securities Inc. increased its holdings in shares of Sonoco Products by 35.0% during the fourth quarter. Principal Securities Inc. now owns 1,355 shares of the industrial products company's stock worth $66,000 after buying an additional 351 shares in the last quarter. SRS Capital Advisors Inc. raised its stake in shares of Sonoco Products by 311.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,713 shares of the industrial products company's stock valued at $84,000 after acquiring an additional 1,297 shares during the last quarter. Albion Financial Group UT acquired a new position in shares of Sonoco Products in the 4th quarter worth approximately $84,000. Finally, GAMMA Investing LLC grew its position in Sonoco Products by 33.8% during the 4th quarter. GAMMA Investing LLC now owns 3,158 shares of the industrial products company's stock worth $154,000 after acquiring an additional 798 shares during the last quarter. 77.69% of the stock is owned by institutional investors.

Insider Activity

In other news, Director John R. Haley purchased 3,000 shares of the firm's stock in a transaction dated Thursday, February 27th. The stock was bought at an average price of $46.76 per share, with a total value of $140,280.00. Following the acquisition, the director now directly owns 18,558 shares of the company's stock, valued at approximately $867,772.08. This represents a 19.28 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO R. Howard Coker acquired 20,000 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average cost of $46.10 per share, for a total transaction of $922,000.00. Following the purchase, the chief executive officer now directly owns 482,365 shares in the company, valued at $22,237,026.50. This trade represents a 4.33 % increase in their position. The disclosure for this purchase can be found here. 0.74% of the stock is currently owned by company insiders.

Sonoco Products Stock Performance

Sonoco Products stock opened at $46.23 on Friday. The company has a current ratio of 0.79, a quick ratio of 1.91 and a debt-to-equity ratio of 2.18. The company has a market cap of $4.56 billion, a PE ratio of 28.02, a PEG ratio of 0.76 and a beta of 0.64. The company's 50-day moving average is $45.66 and its two-hundred day moving average is $48.51. Sonoco Products has a 1 year low of $39.46 and a 1 year high of $61.73.

Sonoco Products (NYSE:SON - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.18 by ($0.01). The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.67 billion. Sonoco Products had a net margin of 2.60% and a return on equity of 20.81%. Equities analysts anticipate that Sonoco Products will post 6.1 earnings per share for the current year.

Sonoco Products Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be issued a dividend of $0.53 per share. The ex-dividend date is Friday, May 9th. This represents a $2.12 dividend on an annualized basis and a yield of 4.59%. This is a boost from Sonoco Products's previous quarterly dividend of $0.52. Sonoco Products's dividend payout ratio (DPR) is 128.48%.

Analysts Set New Price Targets

Several brokerages have issued reports on SON. Wells Fargo & Company cut their price objective on Sonoco Products from $50.00 to $48.00 and set an "underweight" rating for the company in a research report on Monday, February 24th. Jefferies Financial Group started coverage on Sonoco Products in a report on Tuesday, April 22nd. They issued a "buy" rating and a $62.00 price target for the company. Bank of America increased their price objective on shares of Sonoco Products from $66.00 to $71.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Raymond James dropped their target price on shares of Sonoco Products from $54.00 to $50.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Finally, StockNews.com lowered shares of Sonoco Products from a "hold" rating to a "sell" rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Sonoco Products currently has an average rating of "Hold" and a consensus target price of $56.43.

About Sonoco Products

Sonoco Products Company, together with its subsidiaries, designs, develops, manufactures, and sells various engineered and sustainable packaging products in North and South America, Europe, Australia, and Asia. The company operates Consumer Packaging and Industrial Paper Packaging segments. The Consumer Packaging segment offers round and shaped rigid paper, steel, and plastic containers; metal and peelable membrane ends, closures, and components; thermoformed plastic trays and enclosures; and high-barrier flexible packaging products.

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